VICTORIA’S Secret has tumbled into administration in the UK, putting more than 800 jobs and 25 stores at risk.
The UK arm of the lingerie retailer has struggled during the coronavirus lockdown, it was revealed today.
It has called in Deloitte for a “light touch” administration, after the company was hit by the closure of high streets during the pandemic.
Victoria’s Secret had already furloughed 785 of its workers before appointing administrators.
Administrators will try to find a buyer for its assets, or re-negotiate its rents, in a bid to pull it out of administration.
The brand’s UK website is continuing to trade as normal.
For the latest news on this story keep checking back at Sun Online, where we will bring you live updates as soon as they happen, before anyone else.
Like us on Facebook at www.facebook.com/thesun, and follow us from our main Twitter account at @TheSun, where we will bring you this story and all the rest of the top news and exclusives of the day.
Thesun.co.uk is your go to destination for the best celebrity news, football news, real-life stories, jaw-dropping pictures and must-see video
News Mondial 